Financial Acumen for Nonprofits

Description

As scrutiny continues to increase surrounding nonprofit transparency, the need to thoroughly understand the interworkings of the accounting framework also increase. Nonprofits are being pushed to do more with less and typically do not utilize their financial reports as marketing tools to their fullest extent. This full day course will cover all aspects of financial reporting for nonprofits. Geared towards accounting professionals working both within the nonprofit sector and advisors supporting the nonprofit industry.

Highlights

• Accounting transactions unique to nonprofits
• Reading and interpreting financial statements for nonprofits
• Chart of account creation and maintenance
• Functional expense classification
• Special event reporting
• Accounting for in-kind contributions
• Multi-year pledge arrangements
• Tracking restricted gifts
• Budgeting for nonprofits
• New accounting standards specifically affecting the nonprofit sector
• Overview of Form 990 and other tax compliance reporting requirements

As with all of our courses, there will be ample opportunity for the attendees to ask their “real life” questions throughout the day.

Objectives

• Develop the ability to read and analyze the financial health of a non profit organization
• Acquire the knowledge to thoroughly utilize the financial reports of a non profit organization as both a management and marketing tool
• Identify threats to financial sustainability of a non profit organization

Designed For

This session will be focused upon providing the nonprofit practitioner and nonprofit executive/financial personnel with guidance and valuable resources/tools to best ensure that they possess sufficient knowledge regarding the financial framework of their respective non profit organization. This session is considered to be at a beginner/intermediate level. There are no prerequisites and no advance preparation required for attending this session.